L2 Asset Management LLC Sells 14,825 Shares of Marathon Petroleum Corporation $MPC

L2 Asset Management LLC lowered its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC) by 46.9% in the third quarter, Holdings Channel.com reports. The institutional investor owned 16,808 shares of the oil and gas company’s stock after selling 14,825 shares during the period. L2 Asset Management LLC’s holdings in Marathon Petroleum were worth $3,240,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of MPC. Delos Wealth Advisors LLC bought a new position in Marathon Petroleum in the second quarter valued at about $25,000. WFA of San Diego LLC acquired a new position in Marathon Petroleum during the second quarter worth about $33,000. Transce3nd LLC lifted its holdings in shares of Marathon Petroleum by 10,250.0% in the second quarter. Transce3nd LLC now owns 207 shares of the oil and gas company’s stock worth $34,000 after acquiring an additional 205 shares during the last quarter. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Marathon Petroleum in the 2nd quarter valued at approximately $38,000. Finally, IAG Wealth Partners LLC acquired a new stake in shares of Marathon Petroleum in the 3rd quarter valued at approximately $39,000. 76.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently issued reports on MPC. Wells Fargo & Company upped their price objective on shares of Marathon Petroleum from $213.00 to $217.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 4th. Piper Sandler cut their target price on shares of Marathon Petroleum from $231.00 to $184.00 and set a “neutral” rating on the stock in a research report on Thursday, January 8th. The Goldman Sachs Group boosted their target price on shares of Marathon Petroleum from $211.00 to $239.00 and gave the stock a “buy” rating in a research note on Thursday, March 12th. Jefferies Financial Group lowered their price target on shares of Marathon Petroleum from $216.00 to $205.00 and set a “buy” rating for the company in a report on Monday, January 26th. Finally, Scotiabank reiterated an “outperform” rating and issued a $174.00 price target on shares of Marathon Petroleum in a research note on Friday, January 16th. Eleven analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $204.25.

Marathon Petroleum Stock Up 1.4%

Shares of NYSE MPC opened at $229.36 on Tuesday. The company has a 50 day simple moving average of $194.20 and a 200 day simple moving average of $188.67. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.26 and a quick ratio of 0.74. Marathon Petroleum Corporation has a 1 year low of $115.10 and a 1 year high of $236.10. The firm has a market cap of $67.60 billion, a PE ratio of 17.18, a price-to-earnings-growth ratio of 1.35 and a beta of 0.69.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results on Tuesday, February 3rd. The oil and gas company reported $4.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.73 by $0.34. The firm had revenue of $32.57 billion during the quarter, compared to analysts’ expectations of $30.89 billion. Marathon Petroleum had a net margin of 2.99% and a return on equity of 13.90%. The company’s revenue was down .1% on a year-over-year basis. During the same period in the prior year, the company posted $0.77 EPS. On average, research analysts forecast that Marathon Petroleum Corporation will post 8.47 EPS for the current year.

Marathon Petroleum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Wednesday, February 18th were paid a $1.00 dividend. The ex-dividend date of this dividend was Wednesday, February 18th. This represents a $4.00 annualized dividend and a dividend yield of 1.7%. Marathon Petroleum’s payout ratio is currently 29.96%.

Insiders Place Their Bets

In related news, insider Ricky D. Hessling sold 1,037 shares of the firm’s stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $229.08, for a total transaction of $237,555.96. Following the completion of the transaction, the insider directly owned 9,151 shares of the company’s stock, valued at $2,096,311.08. This trade represents a 10.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.25% of the stock is owned by insiders.

Marathon Petroleum Company Profile

Marathon Petroleum Corporation (NYSE: MPC) is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.

Marathon Petroleum’s operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.